Amex Reports Multiple High Grade Gold Drill ResultsUp to 17.89 g/t Au over 8.40 meters from the HGZ at Perron

MONTREAL, March 11, 2021 - Amex Exploration Inc. ("Amex"or the"Company") (TSXV:AMX)(FRA:MX0)(OTCQX:AMXEF)is pleased to report a number of high grade drill results focused on expansion and definition of the High Grade Zone ("HGZ") of the Eastern Gold Zone ("EGZ") of the Perron Gold Project, Quebec.

Today's results significantly confirm expectations of the continuity of the HGZ as Amex works to drill off its maiden resource on the PerronProject. Highlights are detailed below, and a complete list of results is available in Table 1 and presented in Figure 2.In addition to the results detailed below, Amex is waiting on over 15,000 samples at the lab from holes targeting the HGZ, Denise, and Grey Cat Zone, as well as regional exploration drilling.(Figure 1)

• Hole PE-20-187W2 intersected:
  • 49.04 g/t Au over 2.20 m including 106.04 g/t Au over 0.55 m and 87.92 g/t Au over 0.55 m at a vertical depth of approximately 1,060 m.

• Hole PE-20-216 intersected:
  • 13.94 g/t Au over 3.25 m at a vertical depth of approximately 260 m.

• Hole PE-20-224W1 intersected:
  • 10.37 g/t Au over 6.00 m at a vertical depth of approximately 800 m.

• Hole PE-20-224W2 intersected:
  • 7.57 g/t Au over 13.00 m including 141.21 g/t Au over 0.55 m at a vertical depth of approximately 780 m.

• Hole PE-20-230 intersected:
  • 17.89 g/t Au over 8.40 m including 116.81 g/t Au over 0.50 m and 223.87 g/t Au over 0.40 m at a vertical depth of approximately 580 m.

• Hole PE-20-230W1 intersected:
  • 7.45 g/t Au over 8.80 m including 100.86 g/t Au over 0.50 m at a vertical depth of approximately 540 m.

Figure 1: Geology of Perron Project and Gold Zones, as well as recently announced discoveries including the 210 Zone and hole PEX-21-041

Figure 2:Longitudinal Section of the HGZ looking South

Table 1: Assay Results from the HGZ

*Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be ~75% in the HGZ.

Qualified Person

Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration.The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling were completed by Laurentia Exploration.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains under-explored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements:

This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

SOURCE: Amex Exploration Inc.